This Act may be cited as the Mahanuwara Bauddha Vidya Peetaya (Incorporation) Act.

2. Incorporation of the Mahanuwara Bauddha Vidya Peetaya.

From and after the date of commencement of this Act, such and so many persons as now are members of the Mahanuwara Bauddha Vidya Peetaya (hereinafter referred to as "the Bauddha Vidya Peetaya”) or shall hereafter be admitted, members of the Corporation hereby constituted, shall be and become a body corporate with perpetual succession, under the name and style of the "Mahanuwara Bauddha Vidya Peetaya” (hereinafter referred to as "the Corporation”) and by that name, may sue and be sued with full power and authority to have and use a common seal and alter the same at its pleasure.

3. General objects of the Corporation.

The general objects for which the Corporation is constituted are hereby declared to be—